We are pleased to offer for sale this Fifty Dollar Bill Green Seal FRN Series 1950 US Currency. These $50 Green Seal FRNs are nice original bills which grade good or better. These $50 Green Seal Federal Reserve Notes are from Series 1950, 1950 A, B, C, D or E (our pick). Each bill comes in a currency sleeve for protection. These $50 Green Seal Federal Reserve Notes will make a nice addition to any currency collection!
Information on these Federal Reserve Note Series 1950 Fifty Dollar Bills:
Series 1950 Federal Reserve Notes were made with green seals. The series are known to have Mule notes (1950). All bills feature a portrait of Ulysses S. Grant on the obverse and a view of the United States Capitol building on the reverse. Series 1950 $50 Federal Reserve Notes no longer feature the "redeemable in gold" clause, as the country had officially withdrawn from the gold standard in 1933.
What is a Federal Reserve Note?
Federal Reserve Notes are United States Currency also known as Greenbacks, Feds, or FRNs. Federal Reserve Notes were authorized by an Act of Congress, December 23, 1913. Federal Reserve Notes are the main currency that we use today. All Federal Reserve Notes can be distinguished by their green seals. Federal Reserve Notes are obligations of the United States and are a first lien on the assists of the issuing Federal Reserve Bank. These notes are also secured by a pledge of collateral equal to the face value of the note. The collateral consists of one of the following assets: 1) Gold Certificates, 2) Special Drawing Right Certificates, 3) United States Government Securities, or 4) "eligible paper" as described by the statue.
Federal Reserve Notes are currently issued in denominations of $1, $2, $5, $10, $20, $50, and $100. The Department of the Treasury discontinued issuance of $500, $1,000, $5,000, and $10,000 Federal Reserve Notes on July 14, 1969 because of a lack of demand.
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